Newer Estates OUTSELL Top 10 Blue-Chip Housing Estates: Modern Facilities and Younger Age Drive Appeal

According to a report by Midland Realty, newer residential estates (under 10 years old) recorded an average transaction rate of 2.3% as of July 23, up 0.2 percentage points from 2.1% during the same period last year. In contrast, the transaction rate for the top 10 most popular estates was only 1.5%, a 0.1% decrease year-on-year, highlighting the stronger appeal of newer estates.

The agency noted that newer estates have gained significant market attention this year. Among 10 monitored newer estates, seven saw year-on-year increases in transaction rates, with the most significant growth recorded by Grand Yoho in Yuen Long, which rose by 0.7% to a transaction rate of 2.7%. Other strong performers include Tsuen Wan's Ocean Pride, Kwun Tong’s Grand Central, and Tin Shui Wai’s Wetland Seasons Park, all of which increased by 0.5%.

Transaction rates for these newer estates ranged from 1.8% to 2.7%, significantly outperforming the 1.2% to 1.7% range observed for the top 10 estates. This was attributed to the modern facilities and relatively young age of the newer estates, which make them more attractive to buyers.

In contrast, transaction rates for the top 10 estates decreased by 0.1% year-on-year. Among these, five estates experienced declines of 0.1% to 0.3%, two remained stable, and only three recorded a slight increase of 0.1%.

This trend underscores how newer estates, with their updated features and amenities, have become more competitive in attracting buyers compared to older, more established properties.

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